If you want to do something out of the norm, here's code I wrote that runs two average lengths across the volume. When they cross, the trend often changes but, knowing the direction of the trend is key. It's not always obvious. I used the usual 50 EMA and then made the second half of it (25), to get an average of the average.
I also added a volume line that can be adjusted based on the volume trend. For example, if the trend changes at 200,000 then figure that out and manually input the data.
I was never quite happy with just one "Average line." :)
Cheers,
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input length = 50;
input length2 = 25;
input High_Volume = 1000000;
plot Vol = volume;
plot VolAvg = Average(volume, length);
plot VolAvg2 = Average(volume, length2);
plot HighVolume = High_Volume;
Vol.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Vol.SetLineWeight(3);
Vol.DefineColor("Up", Color.UPTICK);
Vol.DefineColor("Down", Color.DOWNTICK);
Vol.AssignValueColor(if close > close[1] then Vol.color("Up") else if close < close[1] then Vol.color("Down") else GetColor(1));
VolAvg.SetDefaultColor(GetColor(8));
VolAvg.SetDefaultColor(GetColor(0));
HighVolume.SetDefaultColor(GetColor(5));
Vol.HideTitle();
VolAvg.HideTitle();
VolAvg2.HideTitle();
HighVolume.HideTitle();
